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Name | Symbol | Market | Type |
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Global X Emerging Markets Great Consumer ETF | NYSE:EMC | NYSE | Exchange Traded Fund |
Price Change | % Change | Price | High Price | Low Price | Open Price | Traded | Last Trade | |
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0.00 | 0.00% | 29.05 | 0 | 01:00:00 |
By Angela Chen
VMware Inc. on Tuesday reported that revenue rose 4% in the June quarter, worse than expected.
Shares fell about 1.7% in after-hours trading.
The Silicon Valley company is a pioneer in virtualization, a technology that paved the way for cloud-computing, substituting hardware with software and driving down IT costs. It has been expanding operations in the booming mobile-device market, and purchased AirWatch, a mobile-device management company, in January 2014.
VMware is majority-owned by data-storage vendor EMC Corp.
In the latest quarter, revenue rose to $1.52 billion from $1.46 billion a year earlier. Revenue was reduced by a $75.5 million settlement with the Department of Justice.
VMware posted a profit of $172 million, or 40 cents a share, up from $167 million, or 38 cents a year earlier. Excluding the settlement and other items, earnings were 93 cents a share, up from 81 cents in the prior-year period.
Analysts had expected earnings of 91 cents on revenue of $1.59 billion, according to Thomson Reuters.
VMware said last August it would no longer offer long-term financial projections.
Write to Angela Chen at angela.chen@dowjones.com
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